China's e-commerce transactions hit RMB 3.1 trln in 2008

Published: 04 May 2009 18:39:03 PST

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May 5, 2009 (China Knowledge) - The total transaction volume of China's e-commerce market surged 43% from a year earlier to RMB 3.1 trillion in 2008, the Shanghai Securities News reported on Monday, citing an official with China's Ministry of Commerce (MOC).

Nie Linhai, vice director-general of the Department of Information Technology under the MOC, said that although the global financial crisis has severely hit the world economy, it has provided the e-commerce industry a valuable opportunity.

Companies that use e-commerce are less influenced by the global economic recession than those that do not, according to Nie.

The e-commerce sector also benefited from the development of the Chinese logistics industry, which generated RMB 89.9 trillion last year, up 19.5% year on year.